Laura Ashley to close 40 stores across UK
The fashion brand is planning on expanding in China
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Your support makes all the difference.Laura Ashley has announced that it will be closing 40 of its 160 stores across the UK.
The home furnishings and fashion retailer, which is owned by Malayan United Industries (MUI), plans on using the closures to build on the brand's presence in China.
Andrew Khoo, who recently replaced his father Khoo Kay Peng as MUI chairman, explains the reasoning behind Laura Ashley's growth strategy.
"The direction I want to go is to have not so many stores, but maybe the ones we have could be larger," he tells Press Association. "It's more about showcasing the brand."
Once Laura Ashley has built a larger online presence in China, it then plans on opening stores in the region.
Fashion designer and businesswoman Laura Ashley co-founded the brand with her husband, Bernard Ashley, in 1953.
The first Laura Ashley store opened in South Kensington in 1968 and the brand's quintessentially British style, with its long floral dresses and soft-coloured tones, went on to define the early 1970s hippie aesthetic.
Since then, Laura Ashley expanded to selling homeware in its signature floral prints inspired by the English countryside.
Khoo explains that closing a number of Laura Ashley stores in the UK shouldn't affect the loyalty of its customers.
"It doesn't really matter if they buy online or offline, we want them to get inspired."
He continues, emphasising the importance of boosting the British brand's presence in Asia.
"We're moving to Asia in a much bigger way," he says.
"We have a regional office in Singapore, it's a dedicated office of about 10 people and it's focused purely on ecommerce into China.
"Once we get a significant foothold in digital retail in China we can look at the physical stores rollout."
Since the beginning of 2015, Laura Ashley has closed 40 of its UK stores.
Khoo explains that while the retailer's clothing sales have been increasing in the UK in the lead up to Christmas, profits from furniture sales haven't been as promising.
"It's a challenging environment and it could become more challenging," he says.
"My long-term view of the UK is I have confidence in the UK and we will continue to invest in the UK.
"As long as Laura Ashley stays relevant there's no reason we can't get over this little speed bump."
With the news of the multiple store closures, Laura Ashley has stated that it will be moving any staff working in the affected stores to other UK shops that have been expanded.
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